Storage company is the latest to leave California for Texas
After more than 50 years in California, Public Storage is moving its headquarters to Texas.
The company shared plans to move its corporate headquarters from Glendale to Frisco, Texas, a suburb of Dallas, ahead of an earnings release earlier this month.
The real estate investment trust, the largest self-storage brand in the United States, has been based in Southern California since its founding in El Cajon in 1972.
The company operates more than 3,500 self-storage facilities in 40 U.S. states and employs more than 5,000 people.
The move, part of a broader overhaul of the company, will help the company tap into “the depth of talent and innovation in that market,” according to one company. expression.
Company management framed the move as a logistical decision rather than a mass exodus from California.
The company has long-established operations in both Glendale and Dallas, new Chief Executive Officer H. Thomas Boyle, who is now the company’s chief financial and investment officer, said during the company’s fourth-quarter earnings call.
Boyle said corporate job openings are frequently posted at both offices, but in the last few years most of the new positions have been filled at the Texas location.
“This is about finding the right talent across the country and building a forward-looking team, and we look forward to strong leadership in both offices,” Boyle said.
News coming soon Senate Bill 709 It came into force at the beginning of 2026.
The bill was designed to impose a price cap on California’s self-storage industry, but was scaled back under a transparency law that requires disclosure of rent increases in lease agreements. The California Self Storage Association, of which Public Storage is the primary funder, lobbied heavily against the bill’s passage.
Public Storage isn’t the only major company to move from California to the Lone Star State recently.
California has been losing more companies than it has gained since 2014. But experts and economists have previously told The Times that the corporate departures represent adjustments to California’s regulations. 4.1 trillion dollar economyrather than systemic signs of decline.
Last year, hair care company John Paul Mitchell Systems moved from Southern California to Wilmer, Texas, and green energy company GAF moved from San Jose to Georgetown, Texas.
in 2024 Strip announced plans to move its headquarters from the Bay Area to Houston after several years of disagreements with Sacramento over climate and energy policies.
That year, Elon Musk said he would move SpaceX and X’s headquarters from Hawthorne to Starbase, Texas, because of a new state law banning teachers from having to notify parents of student gender identity changes.
in 2021 Tesla’s announced that it will move its headquarters from the Bay Area to Austin, Texas.
Financial services company Charles Schwab moved from San Francisco, where it was founded, to Westlake, Texas, in 2019.
Some billionaires, including Oracle founder Larry Ellison and Palantir founder Peter Thiel, began moving away from the state when a labor-backed coalition collected signatures in November in hopes of imposing a one-time 5% tax on the combined wealth of California billionaires, The Times reported.
